LawFuel.com – International Law News – Leading international law firm Clifford Chance has advised FountainVest Partners on its investment as part of a consortium including Morgan Stanley Infrastructure and Olympus Capital, in Zhaoheng Hydropower Limited, a privately owned holding company operating hydropower assets in China. The consortium is investing a second US$150 million following an initial US$150 million investment in Zhaoheng in 2010.
The combined US$300 million investment represents the largest foreign investment in China’s renewable energy and hydropower sector. Zhaoheng owns and operates over 30 hydropower plants in seven provinces with over 650MW of installed capacity.
Corporate partner Terence Foo commented, “Renewable energy will continue to grow as a result of both China’s rising energy needs and the Chinese government’s efforts to reduce the usage of coal for power generation.”
Terence led the team on this transaction and was assisted by senior associate Paula Liu.